Collateral Covenants definition

Collateral Covenants. Minimum Eligible Accounts Receivable and Minimum Eligible Inventory covenants consistent with the Amended and Restated Tenth Amendment except that, in addition, the Borrower shall maintain, as at the end of each fiscal quarter, Eligible Receivables having a value equal to at least $32,000,000.
Sample 1

Examples of Collateral Covenants in a sentence

  • Collateral, Covenants and Restrictions Our obligations under the Senior Credit Facility are secured by substantially all of our consolidated subsidiaries' assets, including certain real estate.

  • Traditionally, creditanalysis has rested on what is known as the “4 C’s of Credit”: Capacity, Collateral, Covenants, and Character.

  • If, as of any date, the Parent Credit Agreement is (y) terminated and has not yet been replaced, or (z) replaced by a financing which does not qualify under clause (x) of the preceding paragraph, then Guarantor shall continue to comply with all of the covenants contained in Article V of the Parent Credit Agreement (other than the Collateral Covenants, but in this case including the Negative Pledge Covenants) which are in effect as of the date immediately prior to such termination or replacement.

  • Collateral, Covenants, Representations and Warranties, Events of Default and other Terms: Same as Revolving Facility under the Existing Credit Agreement.

  • Collateral, Covenants and Restrictions Our obligations under the 2017 Senior Credit Facility are secured by substantially all of our and our consolidated subsidiaries' assets, excluding real estate.

  • Further Assurances 2 Section 6.12 Additional Collateral Covenants 2 Section 6.13 Investment Proceeds, Etc 2 Section 6.14 Immediate Notice to the Administrative Agent.

  • Lender makes no representations or statements about the Custodian’s experience or qualifications to perform its obligations under the Collateral Covenants.

  • Collateral, Covenants and Restrictions Our obligations under the Senior Credit Facility are secured by substantially all of our consolidated subsidiaries' assets, including certain real estate.In addition, all of our subsidiaries are joint and several guarantors of, and our ownership interests in those subsidiaries are pledged to collateralize, our obligations under the Senior Credit Facility.

  • The changes in fair value of the forward starting swaps for the three and six months ended June 30, 2018 was a gain of $12 million and $31 million, respectively (three and six months ended June 30, 2017 - a loss of $14 million and $12 million, respectively).

Related to Collateral Covenants

  • Collateral Coverage Ratio means (i) the aggregate value of any relevant collateral security, including the pro rata value of any shared collateral, divided by (ii) the outstanding aggregate principal amount of the relevant debt.

  • Financial Covenants means the covenants set forth in Section 6.2.

  • Additional Covenant means any covenant in respect of the financial condition or financial position of the Company, including, but not limited to, covenants that specify or require the maintenance of certain financial ratios applicable to the Company, and the default provision related thereto (regardless of whether such provision is labeled or otherwise characterized as a covenant or a default).

  • Environmental covenant means a servitude arising under an environmental response project that imposes activity and use limitations.

  • Financial Covenant has the meaning specified in Section 7.08.

  • Financial Covenant Debt of any Person means Indebtedness of the type specified in clauses (a), (b), (d), (e), (f) and (h) of the definition of “Indebtedness,” non-contingent obligations of the type specified in clause (c) of such definition and Guaranty Obligations of any of the foregoing.

  • Financial Covenant Default has the meaning assigned to such term in Section 8.01(6).

  • Collateral Call means a notice to a Participant that additional Collateral, or possibly early payment, is required in order to remain in, or to regain, compliance with Tariff, Attachment Q.

  • Financial Covenant Event of Default has the meaning specified in Section 8.01(b).

  • Collateral and Guarantee Requirement means, at any time, the requirement that:

  • Replacement Capital Covenant has the meaning specified in the introduction to this instrument.

  • Debt Service Requirement means, as of any date of calculation with respect to the Bonds, the sum of (i) all interest due or to become due on such date on all Outstanding Bonds plus (ii) all Principal Installments due or to become due on such date on all Outstanding Bonds or, if no Principal Installment is due and payable on such date on any Outstanding Bonds, one- half of the Principal Installments, if any, due and payable on all Outstanding Bonds on the next succeeding Interest Payment Date.

  • Debt Service Requirements means the aggregate principal payments (whether at maturity or pursuant to scheduled mandatory sinking fund redemption requirements) and interest payments on the Bonds for the period of time for which calculated; provided, however, that for purposes of calculating such amount, principal and interest shall be excluded from the determination of Debt Service Requirements to the extent that such principal or interest is payable from amounts deposited in trust, escrowed or otherwise set aside for the payment thereof with the Paying Agent or other commercial bank or trust company located in the State and having full trust powers.

  • Negative Covenants The Postpetition Financing Documents shall contain negative covenants of the Borrower acceptable to the Lender.

  • Collateral Pool means, at any time, each Portfolio Investment that has been Delivered (as defined in the Guarantee and Security Agreement) to the Collateral Agent and is subject to the Lien of the Guarantee and Security Agreement, and then only for so long as such Portfolio Investment continues to be Delivered as contemplated therein and in which the Collateral Agent has a first-priority perfected Lien as security for the Secured Obligations (subject to any Lien permitted by Section 6.02 hereof with respect to such Portfolio Investment), provided that in the case of any Portfolio Investment in which the Collateral Agent has a first-priority perfected (subject to Permitted Liens under clause (g) of the definition thereof) security interest pursuant to a valid Uniform Commercial Code filing, such Portfolio Investment may be included in the Collateral Pool so long as all remaining actions to complete “Delivery” are satisfied in full within the longest period of (i) seven (7) days of such inclusion and (ii) as the Collateral Agent may agree in its reasonable discretion.

  • Collateral Requirement means the requirement that:

  • Qualifying Replacement Capital Covenant has the meaning specified in the Replacement Capital Covenant.

  • Collateral costs as used in this clause, means agency cost of operation, maintenance, logistic support, or Government-furnished property.

  • Additional Collateral Loan Each Mortgage Loan that is supported by Additional Collateral.

  • Maintenance Covenant A covenant by any borrower to comply with one or more financial covenants (including without limitation any covenant relating to a borrowing base, asset valuation or similar asset-based requirement) during each reporting period, that exists regardless of whether or not such borrower has taken any specified action and includes a covenant that applies only when the related loan is funded.

  • Collateral Quality Test means a test that is satisfied if, as of any date of determination, in the aggregate, the Collateral Loans owned (or in relation to a proposed acquisition of a Collateral Loan, both owned and proposed to be owned) by the Borrower satisfy each of the tests set forth below, calculated in each case in accordance with Section 1.3:

  • Collateral Access Agreement means a landlord waiver, bailee letter, or acknowledgement agreement of any lessor, warehouseman, processor, consignee, or other Person in possession of, having a Lien upon, or having rights or interests in the Equipment or Inventory, in each case, in form and substance satisfactory to Lender.

  • Collateral Quality Tests means the Collateral Quality Tests set out in the Investment Management Agreement being each of the following:

  • Borrowing Base Test means as of any date, a determination that (a) the lesser of (i) the Borrowing Base and (ii) the Facility Amount shall be equal to or greater than (b) the Advances Outstanding.

  • Guarantee Requirement means, at any time, the requirement that:

  • Debt Service Coverage Ratio means a ratio for the applicable period in which: